China Slaps Duties on US and EU Plastics: Trade Tensions Rise

China announced provisional anti-dumping duties on industrial plastics from the US, EU, Japan, and Taiwan after an investigation. The duties, ranging between 3.8% and 74.9%, start January 24. The move comes amid rising trade tensions, notably with the US and EU, as Donald Trump assumes presidency.

In a decisive move, China declared on Thursday that it would impose provisional duties on imports of industrial plastics from key global players such as the United States, European Union, Japan, and Taiwan. This decision follows a comprehensive anti-dumping investigation spanning several months.

The Ministry of Commerce indicated that the provisional anti-dumping tariffs on polyacetal copolymers will range from 3.8% to a substantial 74.9%, varying by country and company. These measures will take effect starting January 24, following an investigation initiated in May amid heightened trade tensions and tariff hikes.

Amid these developments, just as Donald Trump is poised to take office with expected stringent trade policies, China revealed that it imported around 3 billion yuan worth of these plastics from these countries last year. The duties particularly target US firms with the highest rates, while Japanese and European producers will also face significant levies.

(With inputs from agencies.)